431 Ashworth Cir

West Marion, NC 28752

$130,500D-

1 bd · 1.0 ba · 462 sqft · Built 1942 · SingleFamily · Active · 68 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $941/mo
• Mortgage (P&I): −$684
• Tax + insurance: −$125
• HOA: −$0
• Vac / Maint / Mgmt: −$198
• Net cashflow: $-66/mo
• Annual: $-786/yr
• Cap rate: 5.69%
• Cash-on-cash: -2.15%
• DSCR: 0.90
• 1% rule: 0.72%
• Cash to close: $36,540

Investor read

• This is a 1-bed/1.0-bath single-family listed at $130k.
• At list price, monthly cash flow is $-66 ($-786/yr) — negative.
• To cash-flow at today's rent, offer at most $119k (8.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $94k (27.9% below list).
• It's been on market 68 days — a 6% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $94k (27.9% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $902 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 69/100 on livability (#164 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A; Watch: employment D+, amenities F, commute F.
• Mcdowell County Schools (rural): math 35% / reading 46% proficiency, ranked #115 of 178 in NC (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: West Marion Elementary School (math 22% / reading 37%, grade F, #975 of 1,410 statewide, top 71%, 377 students, 71% FRL); Mcdowell High School (math 50% / reading 57%, grade C-, #279 of 535 statewide, top 52%, 1,416 students, 60% FRL).
• Watch-outs: built in 1942 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 266 active listings in the ZIP; 175 units permitted in McDowell County in 2024 (0 in 5+ unit buildings).
• McDowell County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 68 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
• Built in 1942 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.